Housing In Germany (Hamburg)

Hi every one i have come accross a nice Idea of becoming a Home owner in short time and small funds without involving Bank, as we dont feel at property Mortagage time with Bank and end up by paying back in 20 to 30 years with 2 to 3 time of property value.I know a property Housing society which aim to help only who plan to own a house you can invest 50,000 EUR and own or Build a Home or your choice value upto 400,000 Euro.